All Things Business

Gorman Rupp Announces 82nd Consecutive Profit Sharing Checks; Shares Hit 52 Week High

17 Dec , 2016  

The Gorman-Rupp Company recently announced the distribution of profit sharing checks totaling more than $1.7 million to approximately 480 employees of its Mansfield and Gorman-Rupp Industries Divisions.

Jeffrey S. Gorman, President and CEO, stated that this was the 82nd consecutive year that Company employees have shared in the Company’s profits, a program started by co-founders J.C. Gorman and H.E. Rupp.

In addition to the profit sharing distribution, the following employees were recognized for their years of service:

Mansfield Division — 40 years of service: Gregory Banks & Richard Jerels; 25 years of service: Jamison Back & Cynthia Beckel

Gorman-Rupp Industries Division — 40 years of service: Judy Tuttle; 30 years of service: William Brokaw; 25 years of service: Bettina Spearman

Earlier this week, it was reported that shares of Gorman-Rupp broke into a 52 week high, hitting a peak of $32.90.

Gorman-Rupp designs, manufactures and sells pumps and related equipment for use in water, wastewater, construction, industrial, original equipment, agriculture, fire protection, heating, ventilating and other liquid-handling application. Based in Mansfield, it has some 1,274 employees.

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